ARC Resources Ltd (ARX) Given Consensus Recommendation of “Buy” by Analysts
Shares of ARC Resources Ltd (TSE:ARX) have earned an average rating of “Buy” from the eleven research firms that are currently covering the stock. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$25.45.
ARX has been the topic of a number of research analyst reports. Raymond James Financial Inc. raised their target price on shares of ARC Resources from C$27.00 to C$27.50 in a research report on Tuesday, July 5th. Scotiabank restated an “outperform” rating and issued a C$26.00 target price on shares of ARC Resources in a research report on Friday, July 29th. BMO Capital Markets raised their target price on shares of ARC Resources from C$23.00 to C$25.00 in a research report on Thursday, October 6th. Barclays PLC raised their target price on shares of ARC Resources from C$22.00 to C$26.00 in a research report on Friday, July 22nd. Finally, Royal Bank Of Canada raised their target price on shares of ARC Resources from C$24.00 to C$25.00 in a research report on Thursday, July 14th.
ARC Resources (TSE:ARX) traded down 2.11% during mid-day trading on Wednesday, hitting $23.65. 426,775 shares of the company were exchanged. The company’s 50-day moving average is $22.71 and its 200 day moving average is $21.64. ARC Resources has a 12-month low of $14.43 and a 12-month high of $24.46. The company’s market capitalization is $8.30 billion.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Wednesday, September 28th.
About ARC Resources
ARC Resources Ltd. is a Canada-based oil and gas company. The Company’s business activities include the exploration, development and production of crude oil, natural gas and natural gas liquids in over five areas across western Canada. The Company is focused on the acquisition and development of resource-rich properties that provide an option for both near-term and long-term growth.
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